The first IPO's of 2016 hit the market this week and both were biotech company's. Although 81% of all 2015 biotech IPO's trade below opening price, the first two for 2016 are off to a great start.Chinese biotech BeiGene (BGNE  ) priced their IPO at $24, the high end of the range raising $158 million. The new issue got off to a great start as it gained 18% on its first day. It was the first biotech IPO to price above the midpoint since September's. The strength is a little bit of a mirage however as the deal was supported by its largest shareholders, who committed to buying up 50% of the offering.

The other biotech, Editas Medicine (EDIT  ) priced at $16 which was at the low end. The company raised $94 million and at first trade nearly broke its offer price, but finished its first day up 14%. Founded in 2013, the Editas IPO demonstrated investor demand for very early-stage biotechs. There were no insiders publicly indicated on the deal so this could be a sign of an increased IPO risk tolerance.

Lastly, PLx Pharma (PLXP  ), which is commercializing a delayed-release aspirin based on its own proprietary methods, postponed its IPO on Thursday. It had filed to raise $68 million by offering 3.8 million shares at a price range of $17 to $19. The Houston based company that was founded in 2002 said the IPO was delayed due to market conditions.